Browsing Tag

capital controls

The move to safe havens may have begun

While the emerging markets are getting a bit of a reprieve today, it bears noting that the move to so-called safe haven assets and currencies has begun. This suggests to me that George Magnus’ warning about this emerging markets crisis must…

Cyprus rejects deposit tax

Today Cyprus voted to reject the deposit tax with 36 MPs voting against and 19 abstaining. One MP was absent. No one voted for the deposit tax. And so this trial balloon of bailing in insured depositors has crashed and burned spectacularly.…
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